Luckbox increases funding to $3.3M ahead of public listing

Esports betting platform Luckbox added nearly $500,000 during its second tranche of funding, the company announced Tuesday, bringing its total to $3.3 million raised thus far. The second tranche closed Monday, after the company announced earlier this month it raised $2.8 million during the first round.

Esports betting platform Luckbox added nearly $500,000 during its second tranche of funding, the company announced Tuesday, bringing its total to $3.3 million raised thus far. The second tranche closed Monday, after the company announced earlier this month it raised $2.8 million during the first round. The company's initial target for funding was in the $1.5 million to $2.2 million range.

"Esports has been one of the few industries to thrive during the COVID-19 outbreak and its enormous potential has been brought into sharper focus," Luckbox CEO Quentin Martin said in a release. "Investors have clearly taken note and their support for us puts us in an even stronger position to accelerate our growth plans." Luckbox, which offers fully licensed, real-money betting on 13 esports to fans in more than 100 countries or territories around the world, previously announced plans to list on the TSX Venture Exchange this summer.

Founded in 2016, Luckbox is set to become the second publicly listed esports betting company in the world, joining Esports Entertainment Group. --Field Level Media